Aviance Capital Partners LLC Sells 1,103 Shares of Meta Platforms, Inc. (NASDAQ:META)

Aviance Capital Partners LLC cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.6% in the 4th quarter, Holdings Channel reports. The fund owned 18,692 shares of the social networking company’s stock after selling 1,103 shares during the quarter. Meta Platforms comprises about 1.4% of Aviance Capital Partners LLC’s holdings, making the stock its 13th largest position. Aviance Capital Partners LLC’s holdings in Meta Platforms were worth $6,616,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC increased its position in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the last quarter. Gilfoyle & Co LLC bought a new position in Meta Platforms during the fourth quarter valued at approximately $39,000. Cranbrook Wealth Management LLC raised its stake in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in shares of Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares during the last quarter. Finally, PayPay Securities Corp boosted its stake in shares of Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on META. Evercore ISI boosted their price target on shares of Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. BNP Paribas started coverage on Meta Platforms in a report on Thursday. They set an “underperform” rating and a $360.00 target price for the company. Robert W. Baird reduced their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Monness Crespi & Hardt boosted their price objective on Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Guggenheim cut their target price on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $509.80.

Meta Platforms Stock Up 3.0 %

Meta Platforms stock traded up $13.72 during mid-day trading on Monday, reaching $465.68. The stock had a trading volume of 15,071,031 shares, compared to its average volume of 18,354,510. Meta Platforms, Inc. has a one year low of $230.27 and a one year high of $531.49. The company has a 50-day moving average price of $490.72 and a two-hundred day moving average price of $409.58. The company has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 26.75, a PEG ratio of 1.18 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, analysts expect that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal year.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 34,398 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $457.52, for a total transaction of $15,737,772.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares in the company, valued at approximately $15,794,965.15. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 34,398 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $457.52, for a total value of $15,737,772.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,257,876 shares of company stock worth $613,168,252. Insiders own 13.71% of the company’s stock.

About Meta Platforms

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.